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Launched · SEC filings

Applied Finance IVS International Large ETF

IVSINasdaqC

$28.76+0.08 (+0.29%)

At close: Oct 13, 2026, 4:00 PM

C41/ 100

Rank 35 of 57 in International Active Equity

C41/100Rank 35 of 57inInternational Active Equity
Intraday session: up, 7 prints from 28.68 to 28.76. Range 28.70 to 28.82. Use the arrow keys to read each point.28.7028.7328.8028.8210 AM12 PM2 PM4 PM
Expense ratio
0.65%
Fund size
$9M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
206
Avg volume · 30D
0M sh
NAV per share
$28.64
52W range
low $25.00high $30.42
Launched
Filings
SEC EDGAR

The ETF.net IVSI Grade

Based on 4 of 6 pillars

C

Score 41 out of 100

Category
International Active Equity⁠
Rank
35 of 57
Six-pillar profile for IVSI. Scores out of 100: Cost 41, Risk 62, Mission not scored, Tradability 27, Holdings not scored, Durability 30. Strongest: Risk (62). Weakest: Tradability (27). Based on 4 of 6 pillars.

Score 41 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C41 out of 100
    Rank 34 of 57

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B62 out of 100
    Rank 15 of 57

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D27 out of 100
    Rank 48 of 57

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D30 out of 100
    Rank 51 of 57

Our read on IVSI

ETF.net Research

CA December 2025 arrival: Applied Finance picking large caps in developed markets outside the US, no index to shadow. Everything here is early days, from the track record to the asset base.

Stated mandate

The Fund seeks long-term capital appreciation.

Why people hold it

  1. 01Simple mandate, plainly stated: long-term capital appreciation from developed markets outside the US, run actively rather than tracking a declared index.
  2. 02Standard 1940 Act stock-fund wrapper, no leverage sleeve or structural quirks flagged in the filings.
  3. 03At 0.65% a year, the fee sits close to what actively managed international ETFs typically charge, not at a boutique premium.

Worth knowing

  1. 01That 0.65% is roughly triple what broad systematic rivals charge (AVDE at 0.23%, DFIC at 0.22%), so the stock selection carries the whole cost gap.
  2. 02Launched in December 2025, so there is no long record to judge and the risk picture rests on a very short history.
  3. 03Small and thinly traded so far, which tends to mean wider spreads and more slippage between the price on screen and the basket underneath.

IVSI Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
206
Top-10 weight
26%
Largest holding
ASML5.3%

Geography

  • United States26.44%
  • United Kingdom16.60%
  • Netherlands11.92%
  • Switzerland9.90%
  • Canada9.32%
  • Australia7.74%
  • Spain5.41%
  • Sweden4.51%
  • Other countries (8)8.16%

Developed 98% · Emerging 2% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 14.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001ASMLAsml Holding NV5.28%274$492K203
002ROP.SWRoche Holding AG3.49%754$325K199
003BHPBhp Group Ltd Common Stock3.18%6,950$296K33
004—Mitsubishi Ufj Financial Gro2.42%10,288$225K2
005NOVNNovartis Ag-Reg2.30%1,489$214K6
006DTEDeutsche Telekom Ag-Reg2.16%7,266$201K279
007AZNAstrazeneca PLC2.09%1,226$195K72
008—Novo Nordisk A/S-B1.74%4,237$162K5
009ALVAllianz SE1.62%322$150K126
010—Recruit Holdings Co Ltd1.53%1,267$142K2
011—Sumitomo Mitsui Financial Gr1.44%6,504$134K2
012—Hsbc Holdings PLC1.44%7,231$134K3
013—British American Tobacco PLC1.43%2,396$133K3
014ORLoreal1.23%268$114K39
015ULVR.LUnilever PLC Common Stock Gbp 0.0311111.20%1,800$111K122

Showing 1–15 of 206 holdings

IVSI Performance

Launched Dec 10, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
IVSI$11,144
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,500
Dec 31, 2025 to Oct 12, 2026. IVSI $11,144. SPY $11,500. Use the arrow keys to read each point.$9,090$10,563$12,035Dec 2025May 2026Oct 2026

Dec 31, 2025 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for IVSI. Periods over one year show the average yearly return.
PeriodIVSI
Year to date+11.4%
1 month−2.9%
3 months−1.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for IVSI
YearReturn barIVSI
2026 YTD+11.4%
2025+2.2%

Since listing, Dec 10, 2025

IVSI in the news

Filtered to IVSI · International Active Equity

IVSI Dividends

Last payment
$0.01 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 24, 2025 $0.01. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.01

IVSI Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.53
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

IVSI Cost

Expense ratio0.65%
  • The middle half of International Active Equity funds
  • Median 0.59%

32 of the 55 International Active Equity funds charge less.

IVSI costs $65.00 a year on $10,000. The median International Active Equity fund costs $59.00.

Other funds in International Active Equity

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